Market Insider

In calmer waters, Bernanke hands Fed to Yellen

Weighing in on the Fed

After eight years of mostly dealing with crisis or its aftermath, Chairman Ben Bernanke will hand his successor a Federal Reserve steering a course toward more normal times.

As evidence of that, the Fed is expected to announce Wednesday afternoon that it will continue to taper its $75 billion a month bond-buying program by a second $10 billion, split evenly between mortgages and Treasury securities.

"We expect $10 billion tapering tomorrow [Wednesday] and $10 billion at each Fed meeting until the Oct. 29 Fed meeting, when the last reduction is expected to take place," said Tony Crescenzi, senior portfolio manager at Pimco.

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